Shortcut for setting origin to vertex
Steps 3/4/5 can be replaced by Shift+S (for Snapping) / O. 

Step 8 can be replaced by T. In general, you can look for underlined letters in such menus.

I also wrote an add-on to automate the process: OriginToSelection.py.

Install the add-on via User Preferences / Add-ons / Install from file, don't forget to activate it (check the box before its name). Press Spacebar and search Origin, then select Origin To Selection.

Be careful, I'm new to publishing add-ons and I'm pretty sure it can cause crashes. Save your work before using!